Trexquant Investment LP Makes New Investment in Thor Industries, Inc. $THO

Key Points

• Trexquant Investment LP has acquired a new stake in Thor Industries, Inc. worth approximately $1.67 million, purchasing 21,984 shares during the first quarter.
• Institutional investors own 96.71% of Thor Industries' stock, indicating significant interest from large financial entities.
• Thor Industries announced a $400 million stock buyback plan, signaling that the company's leadership believes its shares are undervalued.

Trexquant Investment LP purchased a new stake in Thor Industries, Inc. (NYSE:THO - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 21,984 shares of the construction company's stock, valued at approximately $1,667,000.

Several other hedge funds have also made changes to their positions in THO. UMB Bank n.a. lifted its position in shares of Thor Industries by 135.6% in the 1st quarter. UMB Bank n.a. now owns 483 shares of the construction company's stock valued at $37,000 after acquiring an additional 278 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Thor Industries by 96.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 805 shares of the construction company's stock valued at $61,000 after acquiring an additional 395 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Thor Industries by 336.1% in the 1st quarter. Smartleaf Asset Management LLC now owns 785 shares of the construction company's stock valued at $61,000 after acquiring an additional 605 shares in the last quarter. NBC Securities Inc. lifted its position in shares of Thor Industries by 135,500.0% in the 1st quarter. NBC Securities Inc. now owns 2,712 shares of the construction company's stock valued at $205,000 after acquiring an additional 2,710 shares in the last quarter. Finally, Freedom Investment Management Inc. lifted its position in shares of Thor Industries by 20.9% in the 1st quarter. Freedom Investment Management Inc. now owns 2,904 shares of the construction company's stock valued at $220,000 after acquiring an additional 502 shares in the last quarter. Hedge funds and other institutional investors own 96.71% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on THO shares. KeyCorp upgraded shares of Thor Industries from an "underweight" rating to a "sector weight" rating in a research report on Friday, August 1st. Citigroup reiterated a "neutral" rating and issued a $100.00 target price (up previously from $88.00) on shares of Thor Industries in a research report on Tuesday, August 12th. Roth Capital set a $77.00 target price on shares of Thor Industries and gave the stock a "neutral" rating in a research report on Monday, June 9th. Truist Financial increased their target price on shares of Thor Industries from $86.00 to $115.00 and gave the stock a "hold" rating in a research report on Wednesday. Finally, Wall Street Zen upgraded shares of Thor Industries from a "sell" rating to a "hold" rating in a research report on Friday, June 6th. Two equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $94.00.

Insider Activity

In other Thor Industries news, Director Peter Busch Orthwein acquired 3,000 shares of Thor Industries stock in a transaction that occurred on Friday, June 20th. The stock was acquired at an average price of $85.40 per share, with a total value of $256,200.00. Following the purchase, the director owned 136,400 shares in the company, valued at approximately $11,648,560. This trade represents a 2.25% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.50% of the company's stock.

Thor Industries Stock Up 0.5%

Shares of THO stock traded up $0.61 on Friday, hitting $112.32. The company's stock had a trading volume of 508,316 shares, compared to its average volume of 761,251. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.71 and a quick ratio of 0.90. Thor Industries, Inc. has a fifty-two week low of $63.15 and a fifty-two week high of $118.85. The firm's fifty day moving average price is $98.81 and its 200-day moving average price is $87.13. The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of 26.94, a P/E/G ratio of 2.24 and a beta of 1.34.

Thor Industries (NYSE:THO - Get Free Report) last released its quarterly earnings data on Wednesday, June 4th. The construction company reported $2.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.74. Thor Industries had a net margin of 2.32% and a return on equity of 6.15%. The business had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same quarter in the previous year, the business earned $2.13 EPS. Thor Industries's quarterly revenue was up 3.3% compared to the same quarter last year. Research analysts anticipate that Thor Industries, Inc. will post 4.64 EPS for the current year.

Thor Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Tuesday, July 1st. Thor Industries's payout ratio is presently 47.96%.

Thor Industries declared that its Board of Directors has approved a stock repurchase program on Monday, June 23rd that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the construction company to buy up to 8.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Thor Industries Profile

THOR Industries, Inc designs, manufactures, and sells recreational vehicles (RVs), and related parts and accessories in the United States, Canada, and Europe. The company offers travel trailers; gasoline and diesel Class A, Class B, and Class C motorhomes; conventional travel trailers and fifth wheels; luxury fifth wheels; and motorcaravans, caravans, campervans, and urban vehicles.